A Wall Street Vet Backs SEC on Market Structure Revamp

Also, Finra warns brokers on trading apps; state market cops side with Gensler on crypto

Trading firms and brokerages are certain to be the hardest hit by the SEC’s market structure overhaul, so it’s no surprise that the companies have been deeply skeptical of the agency’s key estimate that directing retail stock orders to auctions could save investors some $1.5 billion annually. But one Wall Street trading veteran is now coming to the SEC’…